Globeleq acquires stake in Egypt solar plant

Globeleq, Africa’s leading independent power and energy transition company, has acquired a 48.3% equity stake in Egypt’s 25 MW Winnergy solar PV plant from Enerray and Desert Technologies. Winnergy, operational since 2019, is located in Egypt’s Benban Solar complex, adjacent to Globeleq’s ARC solar plant. GILA Altawakol Electric remains a co-shareholder and manages operations and maintenance. Winnergy, launched under Egypt’s Feed-in-Tariff program, began operations in 2019, generating around 58 GWh annually. It supplies clean electricity to the Egyptian Electricity and Transmission Company, powering approximately 13,600 households and averting 30,000 tonnes of CO2 emissions yearly. Financing for Winnergy was secured from the International Finance Corporation, British International Investment, the Asian Infrastructure Investment Bank, and Europe Arab Bank.